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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
8 ^9 \3 p$ E) JEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.6 ~7 u& L9 B7 x9 r
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The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta. j5 P7 j! `6 R! ~5 C' h
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She moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.
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But she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.
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"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."0 f' K" Z" b; q/ ~3 B) x3 L H
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.9 w6 }+ r; e7 Z( e/ S1 L! S
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But she has lost out on four places since beginning her search for a house.
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" C6 J, _; I+ h5 q% E$ jShe's been outbidded, "out-offered" and "outconditioned."3 d+ y- W0 f3 h3 o) b0 x
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.& f, ~; S/ C2 ^4 _9 i
) o4 h# V) l5 ~; OForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.0 d9 S0 F/ j! n. x" m2 G7 [
8 u- O5 P1 o, C @! X# V$ {Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says." ?1 r' M1 I: B0 P6 ^$ N
j! s, e; v1 P5 T7 j0 J1 K7 S# @) eSo Daly has been checking out townhouses, but even that has been difficult for her.0 R% [- m3 o" q; t7 L. ^5 M
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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3 f S, s- r3 N+ ?Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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) R0 Q( }; g* F7 t3 q! @5 G1 y: M" `An average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922.
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1 N* q: p( r, p; u% `6 Y1 F$ cThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people." y, G4 W* Z; T' p5 C- E( \- [
9 F1 k6 K$ d0 p& q" H2 l5 J9 V1 `"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."
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- s0 p7 S: a3 N+ K8 zThat may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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